New Delhi: Raymond Lifestyle (RLL) share price is all set to be in focus on Friday, December 27, 2024 as brokerage firm Motilal Oswal has initiated a Buy rating on the stock. The company which sells premium clothing and accessories for men and women has said to have taken full advantage of the recent festive and wedding season. The increasing demand for marriage dresses during the wedding season has taken the company to new heights.
It may be noted that 35-40 per cent of Raymond Lifestyle’s total revenue comes from the wedding portfolio. Motilal Oswal has given a BUY Call for Raymond Lifestyle shares and suggested target price of Rs 3,000 per share. The stock closed in the positive territory at Rs 2,050, which is around 49 per cent above the current price.
Raymond Lifestyle financials and business
The company expects a compound annual growth (CAGR) of 9-11 percent during FY24-27. Due to better demand, low capex, and operating profit, the company’s return on capital employed (RoCE) is expected to be around 30 per cent.
Raymond is all set to venture into new segments like sleepwear and innerwear. Under the brand ‘Sleeps by Raymond’ it is offering western and Indian sleepwear.
Additionally, Raymond Lifestyle has also launched a new range of innerwear under the Park Avenue brand. By combining these two segments, the company is likely to get additional revenue of Rs 3000 crore by FY27.
Earlier in December 2024, Gautam Hari Singhania was appointed as the Executive Chairman of Raymond Lifestyle. Singhania was appointed to the post after the special resolution for the “appointment of Gautam Hari Singhania as an executive chairman” of the company and to fix his remuneration received 86.85 per cent of the total votes cast at the Annual General Meeting (AGM).
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Motilal Oswal initiated a buy rating on Raymond Lifestyle (RLL) shares, setting a target price of ₹3000. The recommendation follows a strong festive season, with wedding-related sales contributing significantly to revenue. Markets Business News – Personal Finance News, Share Market News, BSE/NSE News, Stock Exchange News Today
